What to Expect in Danish House Prices in 2023


Feb 8 | 5 minutes read
denmark house prices

Denmark's housing prices vary from budget-friendly to luxurious, but securing a unit can be challenging due to high demand and unfavorable regulations for non-citizens. Expect yearly price increases of 2-12%. A two-bedroom family house costs on average 2,656,115 DKK, or about 18,910 DKK per square meter. Owner-occupied flats are about 38,145 DKK per square meter. The housing market is competitive due to low requirements and accessible loans.

 

Denmark's local housing market presents a challenge for those seeking to purchase a home. Despite the high prices of homes and apartments in central areas, intense competition in the market adds to the difficulties.

 

Low down payment requirements and readily accessible loans with favorable terms fuel the competitiveness of the market. Additionally, an unfavorable attitude towards foreign buyers, reflected in local laws and customs, adds to the obstacles of securing a home in Denmark.

 

 House Costs in Denmark

The average cost of purchasing property in Denmark was 2,656,115 DKK for houses in 2022. City center apartments had an average cost of 35,438 DKK per square meter, while those located further out had an average cost of 24,798 DKK per square meter. The national average cost per square meter was 16,507 DKK. A 145 m2 house cost around 2.4 million DKK on average.

 

The Danish real estate market is booming with record-high property prices. While these prices may seem substantial, they are still 14% lower than the prices seen in 2007 when adjusted for inflation. The market was overheated back then, but no such warning signs are present now. Moreover, the cost of mortgages is more manageable due to low interest rates and higher salaries. Despite the high prices, the number of detached houses sold in 2021 reached a 17-year high with 50,644 sales.

 

Denmark Nyhavn house prices

 

Average House pricings of Denmark in 2023

The prices for all types of housing units in Denmark have seen a steady rise from June 2021 to January 2022. This trend is visible in almost all regions of the country. The Association of Danish Mortgage Banks (ADMB) has collected data that shows the current average prices for owner-occupied flats to be 38,145 DKK/m2. This represents an impressive 11.6% increase from the previous year.

 

This steady rise in prices can be attributed to various factors such as the increasing demand for housing, low-interest rates making mortgages more affordable, and a stable and thriving economy. Additionally, the current low supply of properties for sale, combined with a high demand, has driven prices upwards.

 

Despite the high prices, the Danish real estate market remains robust, with a steady demand for housing and a low-risk investment environment. The ADMB's data reflects this trend, as the steady rise in prices indicates a strong and healthy market. Homeowners in Denmark can be confident that their investments will continue to grow in value, and prospective buyers can be assured that they are entering a market that is thriving and stable.

 

You can always find investment opportunities all over Denmark with HOUSIFY. 

 

Detached house prices in Denmark have been on the rise, with an increase of 11.1% to an average of 18,910 DKK/m². But the real standout is the growth in holiday home prices, which saw a staggering 22.1% jump and now average 23,859 DKK/m².

 

Remember when you could purchase a 140-square-meter home for just over 1.9 million DKK in 2018? Fast forward to 2020 and the same single-family house could cost you 2.5 million DKK. The market has shifted and prices have escalated, making it a seller's market.

 

Like any other country, real estate prices in Denmark can vary greatly depending on the region. A 140-square-meter house in Copenhagen can cost a whopping 5 million DKK, while the same unit in western Jutland might only set you back 1.2 million DKK, and in Bornholm, it could be a mere 990,000 DKK. So, whether you're in the market for a sprawling holiday home or a cozy single-family dwelling, be sure to shop around for the best deals.

 

The real estate market in Denmark is on fire, with prices soaring across the country! But where are the hottest markets? Let's take a closer look at the regions and see how they've been affected:

  • North Zealand: A scorching 16.6% increase. If you're looking for a piece of this action, head north!
  • Surroundings of Copenhagen: The heat is spreading, with a 15.3% increase.
  • Copenhagen city: A sizzling 14.7% increase. This city is definitely on fire!
  • East Zealand: A blazing 14.1% increase.
  • Bornholm: Not to be outdone, Bornholm has seen a 12.6% increase.
  • West and South Zealand: A more modest, but still impressive, 8.7% increase.
  • Fyn: A warm 5.8% increase.
  • South Jutland: A toasty 5.2% increase.
  • East Jutland: A cozy 4.8% increase.
  • North Jutland: A gentle 3.0% increase.
  • West Jutland: A modest 1.2% increase.

 

So, whether you're looking for a blazing hot market or a more modest increase, there's something for everyone in Denmark's real estate market. Don't miss out on this opportunity to own a piece of this beautiful country!

 

copenhagen price houses

 

Copenhagen Housing Market

In the bustling metropolis of Copenhagen, the real estate market is as dynamic as the city itself. With high demand comes high prices, as both home purchases and rentals in the Danish capital command some of the highest prices in the country.

 

A 140-square-meter house in the heart of Copenhagen will cost a staggering 7,156,100 DKK, or 1,027,727 USD, on average. And even though prices have increased across Denmark, the trend is especially pronounced in the city, where a similar home would have cost just 1,923,000 DKK in 2018. Today, it's not uncommon to see prices for a home of this size reach 5 million DKK.

 

But, it's not all bad news. Just a stone's throw away from the city center, the average price per square meter drops to 37,843 DKK, making it a bit more accessible for those looking to purchase a home.

 

And for those who prefer to rent instead, an average apartment in Copenhagen will set you back 16,600 DKK per month. Of course, this cost can vary depending on the location and size of the unit. In the city center, you may pay as much as 49,576 DKK per square meter for an owner-occupied flat, while the average price per square meter is 54,675 DKK.

 

Ultimately, while Copenhagen's real estate market is expensive, it's a testament to the city's desirability and the high demand for homes in the area.


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